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Turnarounds & Workouts has named Aéropostale Inc.’s restructuring as among the most successful of 2016 in a special report in its January 2017 newsletter. This recognition follows an active year for the Firm’s Business Finance & Restructuring Department, whose representations in 2016 totaled roughly $50 billion in liabilities.

Described as one of the year’s highest-profile bankruptcies, Aéropostale filed for chapter 11 amidst mounting pressure to liquidate. The company faced numerous difficulties, ranging from uncooperative lenders, ongoing litigation, a weak retail and mall environment, and poor historical financial performance. Weil, however, successfully steered Aéropostale through these challenges by arranging a first-of-its-kind restructuring that included the retailer’s major landlords and a brand management company. Weil’s ability to orchestrate a consensual agreement amongst all stakeholders, while keeping the majority of stores open, was a “major accomplishment,” and salvaged more than 500 stores and nearly 13,500 employees.